359.301. Sharing of profits and losses. - Missouri Statutes

Sharing of profits and losses.

359.301. The profits and losses of a limited partnershipshall be allocated among the partners, and among classes ofpartners, in the manner provided in writing in the partnershipagreement. If the partnership agreement does not so provide inwriting, profits and losses shall be allocated on the basis ofthe value (as stated in the partnership records required to bekept pursuant to section 359.051) of the contributions made byeach partner to the extent they have been received by thepartnership and have not been returned.

(L. 1985 H.B. 512 & 650, A.L. 1990 H.B. 1432)